Concentrix Corporation (NASDAQ:CNXC) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Concentrix has an average “Hold” rating from six analysts, with three buys, two holds and one sell; the average 12-month price target is $33.50.
• The company beat quarterly earnings expectations with EPS of $2.92 versus $2.71 expected, although revenue fell 1.2% year over year to $2.45 billion and missed estimates.
• Concentrix raised its quarterly dividend to $0.37 per share, representing an annualized dividend of $1.48 and a 5.5% yield; institutional investors own 90.34% of the stock.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) has received an average rating of "Hold" from the six brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.50.

A number of equities research analysts recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Bank of America restated a "neutral" rating and issued a $29.00 target price on shares of Concentrix in a research note on Thursday, October 1st. Zacks Research raised shares of Concentrix from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Barrington Research decreased their price target on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $45.00 price target on shares of Concentrix in a research note on Wednesday, September 30th.

Concentrix Price Performance

CNXC opened at $27.07 on Friday. The business has a fifty day moving average of $27.24 and a 200 day moving average of $26.23. The stock has a market cap of $1.65 billion, a P/E ratio of -0.70, a PEG ratio of 0.50 and a beta of 0.52. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 2.22. Concentrix has a 52-week low of $19.12 and a 52-week high of $48.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.21. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.48 billion. Concentrix had a positive return on equity of 25.00% and a negative net margin of 23.99%.The business's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.78 earnings per share. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. As a group, sell-side analysts anticipate that Concentrix will post 9.77 EPS for the current year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 3rd. Shareholders of record on Friday, October 23rd will be given a dividend of $0.37 per share. This is a boost from Concentrix's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 5.5%. Concentrix's dividend payout ratio is presently -3.70%.

Hedge Funds Weigh In On Concentrix

A number of hedge funds and other institutional investors have recently made changes to their positions in CNXC. GAMMA Investing LLC increased its holdings in Concentrix by 9.8% during the third quarter. GAMMA Investing LLC now owns 4,556 shares of the company's stock valued at $114,000 after buying an additional 405 shares during the period. Handelsbanken Fonder AB lifted its holdings in Concentrix by 5.7% during the second quarter. Handelsbanken Fonder AB now owns 11,200 shares of the company's stock worth $251,000 after buying an additional 600 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Concentrix during the 2nd quarter valued at $25,000. Nykredit A S bought a new stake in Concentrix during the 2nd quarter valued at $29,000. Finally, Webster Bank N. A. purchased a new position in shares of Concentrix in the 1st quarter valued at $41,000. Institutional investors own 90.34% of the company's stock.

About Concentrix

Concentrix Corporation NASDAQ: CNXC is a global technology and services company that helps businesses improve customer engagement, operational performance and digital experiences. The company provides customer experience management, business process outsourcing, technology services and consulting to organizations across industries including technology, retail, healthcare, financial services, communications and travel.

Its offerings include customer care and technical support, sales and revenue generation, fraud prevention, analytics, artificial intelligence, automation, digital transformation and back-office services.

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